• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

COVID-19 Accelerating Demand For Seamless Identity Verification: Ipsidy Issues Q2 Update

August 6, 2020

COVID-19 Accelerating Demand For Seamless Identity Verification: Ipsidy Issues Q2 Update

Ipsidy, a provider of selfie-based biometric authentication technologies, has issued its corporate update for the second quarter, illustrating the impact of the COVID-19 pandemic.

Revenues for the period ended June 30, 2020, came in at $0.3 million, compared to revenues of $0.6 million in the same period last year. Its net result before taxes was a loss of $3.5 million, compared to a before-tax net loss of $2.2 million a year ago.

In announcing the figures, Ipdsidy attributed the decrease in revenues primarily to the effects of the pandemic, asserting that it has caused delays in decision-making among clients, in addition to other disruptions.

At the same time, Ipsidy indicated that “the COVID-19 pandemic is accelerating demand for verifying identity seamlessly during remote onboarding as well securing ‘touchless’ interaction.” As a result, there has been “an uptick in interest” in Ipsidy’s solutions, which the company hopes will bear fruit going forward despite delays in nailing down new agreements.

Ipsidy also highlighted a number of important business developments that occurred during the most recent quarter. These include its recent partnerships with Intellicheck and IECISA and its appointment of Philip R. Broenniman as President and COO. Also noteworthy is Ipsidy’s launch of a web-based version of its Proof by Ipsidy biometric authentication solution.

“The last three months have seen positive developments for Ipsidy,” asserted Ipsidy CEO Phillip Kumnick. “We strengthened the Ipsidy team, secured contracts with leading, global banking platforms and technology resellers that broaden our sales and market reach and delivered solution enhancements to provide security and trusted identity via a quick web browser session and to support the growing trends for remote onboarding of customers and ‘touchless’ commerce.”

That having been said, Ipsidy’s announcement warned that the extent to which COVID-19 continues to impact its business will depend on “highly uncertain” future developments, and said its management team is watching the situation closely.

Related News

  • Ipsidy Q2 Results Show Positive TrendsIpsidy Q2 Results Show Positive Trends
  • FaceTec Sees 321 Percent Revenue Jump in Q1 UpdateFaceTec Sees 321 Percent Revenue Jump in Q1 Update
  • Demand for Biometrics Rose, But COVID Took a Toll in Ipsidy 2020 UpdateDemand for Biometrics Rose, But COVID Took a Toll in Ipsidy 2020 Update
  • Biometric Authentication Specialist Ipsidy Reports Q3 ResultsBiometric Authentication Specialist Ipsidy Reports Q3 Results
  • Mitek is Latest Selfie Biometrics Specialist to Report Sales Jump Amid COVID-19Mitek is Latest Selfie Biometrics Specialist to Report Sales Jump Amid COVID-19
  • Jumio Declares Best Sales Quarter in Company HistoryJumio Declares Best Sales Quarter in Company History

Filed Under: News, Stocks Tagged With: Biometric, biometrics, coronavirus, corporate news, COVID-19, Ipsidy, Q2 2020, Q2 updates, quarterly updates, remote onboarding, selfie authentication

Primary Sidebar

Want To Deploy Biometric Access? Download This First:

The resources in this bundle will give you the know-how to choose the right biometric access for your organization.

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

TECH5 logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Facial Recognition in Policing, COVID Screening, and Consumer Tech: Identity News Digest
  • Police Biometrics, a Data Breach, and Card-focused Partnerships – Identity News Digest
  • Catch Up: The Latest Developments in Biometric Privacy Regulations
  • Highlighting Biometric Security, NC DMV Head Pushes for Mobile Driver’s License
  • NY Attorney General Takes Aim at Madison Square Garden: Identity News Digest

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 FindBiometrics